Pre-Budget Quote by Mr. Pankaj Mohindroo, Chairman, India Cellular and Electronics (ICEA)

After successes in Mobile Handset manufacturing eco-system, ICEA’s current focus is holistic development of the entire electronics manufacturing eco-system in the country – From a Mobile only approach to an expanded and all-encompassing electronics industry focus. It is critical to have a twin objective I. E to bring all major electronics ecosystems into India like Apple, Samsung, Huawei, Oppo, Vivo, LG etc with their components value chain. And simultaneously develop Indian champion companies.
The Government must create a special package to help establish Indian Champions to tap the entry-level $250 billion Global opportunities. There is a compelling need for making a comprehensive strategic support framework for building large domestic companies in order to have the desired level of control on technology in the strategic areas. These Indian companies could then rise to take India’s rightful share in the global market. With sufficient volumes to support key components, we should now also focus on key and core components like Display, Cells etc . Allowance of zero-duty import of second-hand capital goods under the Export Promotion Capital Goods scheme to ease import of used equipment with at least 80 per cent residual value while ensuring fast track clearance
ICEA recommends that the 10 years tax holiday may be granted on a block of 15 – 20 years on all profits and gains under Section 80 IA of IT Act.

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